News
Each day, DailyAlts tracks major developments across the alternative investment world. Our content is procured from primary contacts in the industry and secondary sources across the web. Our goal is to give readers the most up-to-date news and engaging experience to open new doors and areas of knowledge. Our stories cover nine separate verticals of the alternative investment industry.
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Chipmaker AMD (NASDAQ: AMD) has unveiled a range of innovative AI solutions spanning from data centers to personal computers. The AMD Instinct MI300 Series features data center AI accelerators, while the ROCm 6 open software stack introduces new features supporting Large Language Models (LLMs). Additionally, the Ryzen 8040 Series processors come equipped with Ryzen AI capabilities.
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Artificial Intelligence/VC: G42, The Abu Dhabi AI Firm, Forms $10B Fund For Tech Investments In Emerging Markets
G42, the Abu Dhabi-based artificial intelligence firm, announced the launch of the $10 billion G42 Expansion Fund to invest in late-stage growth companies with disruptive technologies and strong business fundamentals. The fund is being set up in partnership with the Abu Dhabi Growth Fund, an arm of the state-owned ADQ, and will be run by a G42 subsidiary. US private equity firm Silver Lake is an investor in G42.
FinTech: Dutch Payments Giant Adyen Disappoints On Earnings
Shares of payments technology provider Adyen NV (AMS: ADYEN) plunged by over 15% to a low of 1544.20 EUR after its earnings report for the first half underwhelmed against market expectations. The company reported revenues of 609 million EUR against expectations of 615 million EUR. Net income was 9.09 EUR per share against a consensus of 9.11 EUR. Earnings before interest, taxes, depreciation, and amortization (EBITDA) came in at 356.3 million EUR versus the FactSet consensus.
Digital Assets: Revolut Bags Crypto License In Cyprus
UK digital bank Revolut will now be able to offer additional and regulated crypto services to its 17 million customers in Europe. The bank seeks an opportunity in the potential compliance required in upcoming EU regulations, and the Cyprus hub will enable it to support digital asset innovation, offer strong customer protection, and expand its crypto business.
Venture Capital: UNDP To Launch “Timbuktoo,” A $1B Investment Initiative For African Startups
The United Nations Development Programme (UNDP) plans to bankroll $1 billion in start-up funding for African businesses over a period of ten years and will involve both public and private capital.
The UNDP Africa aims to engage a large number of private and public sector partners to establish eight Timbuktoo hubs across Africa’s leading startup ecosystems (Accra, Nairobi, Cape Town, Lagos, Dakar, Kigali, Casablanca, and Cairo, among others) and begin operations in 2023, according to a statement.
Artificial Intelligence: Atomwise To Collaborate With Sanofi On AI-Powered Drug Discovery
AI-powered drug discovery startup Atomwise has entered a strategic and exclusive research collaboration with Sanofi (NASDAQ: SNY) for computational discovery and research of up to five drug targets. AtomWise’s AtomNet platform incorporates deep learning for structure-based drug design, enabling the rapid, AI-powered search of Atomwise’s proprietary library of more than 3 trillion synthesizable compounds.
Artificial Intelligence: Shrimps On Tap From The Shrimpbox – An AI-Powered, Temperature Controlled Cargo Container
The Shrimpbox is described as an intelligent, automated shrimp farm that is disconnected from the oceans, and located close to the consumer. It enables the production of shrimp without the ill effects of traditional shrimp farming – which pollutes oceans, destroys habitats and contributes to overfishing.
Venture Capital: Property Management Platform Guesty Lands $170M Series E
Guesty, which provides management software for the short-term rental, vacation rental, and hospitality industry, has raised a $170 million Series E round led by Apax Digital Funds, MSD Partners and Sixth Street Growth. Existing investors Viola Growth and Flashpoint also participated in the round. Guesty will use the funds to scale its operations, develop new technology and solutions, expand into now business verticals and for strategic acquisitions.
Alternative Investments/ESG: Morgan Stanley To Debut In ETFs With Four ESG Equity Funds
Morgan Stanley (NYSE: MS), which coined the term “exchange traded fund” in the 1990s, is making a comeback into the $6.9 trillion ETF market with four socially conscious and sustainable funds under the Calvert label that will invest in US and international stocks. Though late to the party in terms of both ETFs and ESG, Morgan Stanley will bring to bear its $1.4 trillion AUM and marketing muscle on a market that recently saw the advent of the Capital Group and Neuberger Berman.
Digital Assets: Crypto Adoption Makes Progress In Brazil – XP Inc Unveils Crypto Trading
After Nubank and Mercadolibre, XP Inc., the Brazilian brokerage with over 3.6 million customers, has launched a crypto trading platform dubbed XTAGE. Initially, trading will be offered only in bitcoin and ether. XTAGE has been integrated into XP’s trading systems and app. The platform utilized technology from Nasdaq, the US stock exchange, and crypto custody firm BitGo.
Artificial Intelligence: Israeli Startups ASTERRA, Albo Climate Use Satellites And AI To Hunt For Lithium And Carbon
Satellite sensors are delivering valuable data to Israeli startups for analysis with AI to obtain insights on the extent of absorption of carbon on land, as well as locate valuable deposits of lithium that would otherwise be difficult to find and damaging to the environment.
Venture Capital: Andreessen Horowitz Invests $350M In Adam Neumann’s Rental Real Estate Startup
Andreessen Horowitz, also known as “a16z,” and usually described as the storied venture capitalist firm from Silicon Valley, announced Monday its $350 million investment in Flow, a rental real estate startup founded by Adam Neumann, of WeWork fame. The investment, said to be the largest individual cheque Andreessen Horowitz has ever written in a round of funding to a company, valued Flow at $1 billion, even though it is expected to launch only in 2023.
Digital Assets: Skybridge Capital’s Scaramucci Says Bitcoin Could Experience A “Demand Shock”
Anthony Scaramucci, of Skybridge Capital, said on a CNBC interview that the long-term fundamentals of bitcoin remained robust, more so due to recent developments on the institutional side. “Everybody is a long-term investor until they have short term losses,” he observed. Two factors could affect institutional activity in bitcoin and trigger a demand shock for the crypto.
FinTech: Brazilian Fintech Hash Fires Dozens, May Shut Shop
Hash, a Brazilian fintech focused on white-label payments infrastructure, has handed out pink slips to “dozens” of employees and is slowly winding up its operations, according to Reuters. Sources told Reuters that the company’s talks to raise more capital from Softbank Group’s Latin America fund had proved inconclusive.
Venture Capital: E.ON To Be Anchor Investor In Its Venture Arm’s Climate Tech Fund
Future Energy Ventures, the venture arm of Germany head-quartered electric utility E.ON SE (ETR: EOAN), has established a new, independent Luxembourg-domiciled venture capital fund, Future Energy Ventures Fund I SCA SICAV-RAIF. The new fund aims to become Europe’s leading venture capital investor focused on the energy transition and will invest Series A and B investments in ventures that aim to transform the traditional energy value chain towards net zero.
Alternative Investments/ESG: HSBC Launches First-Of-Its-Kind Biodiversity Screened ETF
HSBC Asset Management has launched the HSBC World ESG Biodiversity Screened Equity UCITS ETF (HBDV) on the London Stock Exchange with a total expense ratio (TER) of 0.35%. The ETF is labelled Article 8 under the Sustainable Finance Disclosure Regulation (SFDR).
Artificial Intelligence: Hyundai Motor Group, Boston Dynamics To Spend $400M On AI +Robotics Institute
Hyundai Motor Group (KRX: 005380), along with its majority-owned Boston Dynamics robotics unit, will invest $400 million to set up the Boston Dynamics AI Institute, to be led by Marc Raibert, founder of Boston Dynamics. The Institute will focus on solving the most important and difficult challenges facing the creation of advanced robots.
FinTech: India’s PayTM Gets Heat From Proxy Advisory Firm
Proxy advisory firm Institutional Investor Advisory Services India Ltd. (IiAS) has issued a note ahead of PayTM’s (NSE: PAYTM) annual shareholders’ meeting on August 19 calling for the replacement of Sharma by a professional.
Venture Capital: Lockheed’s Venture Arm To Boost Investment In Space Startups
Lockheed Martin (NYSE: LMT) and its venture finance arm Lockheed Martin Ventures plans to boost the latter’s investment outlay from $200 million to $400 million.
Digital Assets: Brazilian Fintech PicPay Launches Crypto Exchange With Paxos
PicPay, the well-known Brazilian payment app, has got its shoe in the crypto door in partnership with Paxos, a leading regulated blockchain infrastructure company. Picpay is opening crypto trading services for its over 30 million customers and Paxos will manage the trading and custody of the digital assets. To be opened up gradually, the crypto service will initially cover bitcoin, ethereum and USDP, the regulated dollar-backed stablecoin from Paxos.
FinTech: Telecom Behemoth BT Adds Barclaycard Payments To Partnership Network For Micro-Businesses
BT (LON: BT.A), the telecom major, announced that Barclaycard Payments had joined its partnership network seeking to help the growth of UK microbusinesses. BT customers with 0-5 employees would get extra benefits across broadband, mobile, connected devices, and digital marketing.
Alternative Investments/AI: Direxion Launches A Leveraged Electric And Autonomous Vehicle ETF
The Direxion ETF provides 200% exposure to the electric and autonomous vehicles industry. ETF issuer Direxion announced the launch of the Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares ETF (EVAV) that benchmarks 200% of the daily performance of the Indxx US Electric and Autonomous Vehicles Index. Accordingly, it invests in 25 U.S.-listed companies…
Alternative Investments: Direxion Launches Four Single Stock Leveraged ETFs Including Inverse 1X Apple And Tesla
As single stock ETFs roll out thick and fast, Direxion jumped on the bandwagon with the launch of its first four single stock leveraged and inverse ETFs. The funds, which trade on the Nasdaq, allow sophisticated traders to obtain magnified or inverse exposure to the daily performance of the common stocks of Apple (NASDAQ: AAPL) and Tesla (NASDAQ: TSLA).
Artificial Intelligence: Xiaomi Unveils A 177 Cm Tall Humanoid Robot That Can Walk Holding 1.5 Kg In One Hand
Xiaomi’s (HKG: 1810) choice of launch date of CyberOne was strategically a day ahead of Tesla’s (NASDAQ: TSLA) AI Day. Xiaomi Group Founder, Chairman, and CEO Lei Jun shared details of the robot in a blog on Thursday.
FinTech: Banking Solutions Provider Q2 And Rocket Mortgage Tie Up To Offer Home Loan Digitization To Banks
Q2 Holdings (NYSE: QTWO) and Rocket Mortgage announce a partnership to offer Q2 banks and credit unions Rocket Mortgage’s digital home loan application experience, with live mortgage assistance, inside of Q2’s online banking platform.